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Managed Fund Since 2010
Equity
FMQRX Franklin Mutual Quest Fund
- Diversification. With the flexibility to invest a significant portion of its assets in foreign securities, the fund aims to take advantage of undervalued opportunities across the globe.
- A Record of Lower Long-Term Volatility than the MSCI World Value Index.
- Performance in All Types of Markets. Franklin Mutual Quest Fund aims to achieve long-term growth over up, down and sideways market cycles.
Popular Documents
Overview
Fund Facts
Fund description
The fund seeks capital appreciation with income as a secondary goal. Its strategy is focused on undervalued mid- to large-cap equity securities with a significant portion of its assets in foreign securities. The fund also invests in merger arbitrage securities and securities of distressed companies.
Identifiers
- Ticker
- FMQRX
- Fund Number
- 347
- CUSIP Code
- 354026759
Average Annual Total Returns As of 05/31/2026
Class R6
- 17.67%1 Year
- 15.89%3 Years
- 7.23%5 Years
- 6.57%10 Years
- 11.52%Since Inception
09/26/1980
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Top Sectors
As of 05/31/2026 % of Total (Updated Monthly)
Technology Hardware & Equipment11.44% | |
Media & Entertainment9.91% | |
Insurance9.57% | |
Capital Goods7.91% | |
Banks7.34% |
Additional Fund Info
- Share Class Inception Date
- 05/01/2013
- Investment Style
- Value
- Lipper Classification
- Global Allocation Funds
- Morningstar Category
10 - Global Moderately Aggressive Allocation
Manager and Commentary
About the Team
Franklin Equity understands innovation from every angle—our decades of experience investing in complex change fuels a differentiated perspective on how public and private companies accelerate growth and unlock value. Leveraging fundamental depth and quantitative precision, we identify catalysts for transformation that reshape companies and industries. Our expertise, spanning from growth to value, brings together diverse perspectives that help us spot opportunities ahead of the market.
Commentary Highlights
March 31, 2026- Markets: Global equity markets, as measured by the MSCI World Index, fell in US dollar terms during the first quarter as fears about the impact spiking energy prices would have on the global economy following the closure of the Strait of Hormuz weighed on stocks. Additionally, parts of the market were weak on concerns about the impact artificial intelligence may have on a range of businesses. Value-oriented sectors and regions which are less exposed to potential AI disruption performed more strongly.
- Contributors: Stock selection in energy, information technology and communications services contributed to relative results. EOG Resources, BP and SLB were among the leading contributors.
- Detractors: Security selection in consumer staples, consumer discretionary and industrials dented relative results. Detractors included Adobe, Airbus and Reckitt Benckiser.
- Outlook: We remain focused on identifying opportunities to acquire stocks at attractive valuations based upon our assessment of fundamental value. Our process of finding underappreciated and misunderstood companies with identifiable catalysts to unlock shareholder value may provide meaningful upside potential and possible downside risk management during turbulent periods.
Franklin Equity
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Managed Fund Since 2020
Latest Insights
June 4, 2026
June 1, 2026
May 18, 2026
April 16, 2026
Performance
Average Annual Total Returns
As of 05/31/2026
Selected Month May 2026
Class R6 - With Sales Charge (POP) (%)
Month End
As of 05/31/2026
Class R6 - Without Sales Charge (NAV) (%)
Month End
As of 05/31/2026
Blended 70% MSCI World Value-NR + 30% Bloomberg US Corporate High Yield Index (%)
Month End
As of 05/31/2026
MSCI World Value Index-NR (%)
Month End
As of 05/31/2026
Bloomberg US Corporate High Yield Index (%)
Month End
As of 05/31/2026
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Ratings 11
©2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Portfolio
Distributions & Tax
Pricing
Daily Fund Prices
Documents
Risks
All investments involve risks, including possible loss of principal. The investment style may become out of favor, which may have a negative impact on performance. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. To the extent the fund invests in companies in a specific country or region, the fund may experience greater volatility than a fund that is more broadly diversified geographically. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. Investments in companies engaged in mergers, reorganizations or liquidations also involve special risks as pending deals may not be completed on time or on favorable terms. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. The manager may consider environmental, social and governance (ESG) criteria in the research or investment process; however, ESG considerations may not be a determinative factor in security selection. In addition, the manager may not assess every investment for ESG criteria, and not every ESG factor may be identified or evaluated. These and other risks are discussed in the fund’s prospectus.
Important Information
Total Returns include change in share price, assume reinvestment of all distributions, and reflect the deduction of fund expenses and applicable fees. Total returns, distribution rate, and yields reflect any applicable expense reductions and fee waivers; without these reductions, the results would have been lower.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
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Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.
Important data provider notices and terms available at www.franklintempletondatasources.com.
Performance data quoted represents past performance, which does not guarantee future results.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.
The Blended Benchmark (70% MSCI World Value Index-NR (USD) + 30% Bloomberg U.S. Corporate High Yield Bond Index) is a combination of leading global stock and U.S. high-yield bond indexes.
The MSCI World Value Index-NR (USD) is a market capitalization-weighted index of stocks exhibiting overall value style characteristics in global developed markets. The Bloomberg U.S. Corporate High Yield Bond Index measures the performance of the U.S. dollar-denominated, high-yield, fixed-rate corporate bond market.
Source: MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI. Bloomberg Indices.
The MSCI World Value Index is a market capitalization-weighted index designed to measure the performance of stocks exhibiting overall value style characteristics in developed markets.
Net Returns (NR) include income net of tax withholding when dividends are paid.
Source: MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI.
The Bloomberg U.S. Corporate High Yield Bond Index measures the performance of the U.S. dollar-denominated, high-yield, fixed-rate corporate bond market.
Source: Bloomberg Indices.